India poised to become the world's third-largest economy: PM Modi

IANS April 9, 2025 173 views

Prime Minister Narendra Modi is painting an optimistic picture of India's economic trajectory, highlighting the nation's remarkable jump from the 11th to the 5th largest economy. His government is strategically focusing on youth empowerment, with innovative policies like tax exemptions and social security for the gig economy. Modi's approach emphasizes rapid project completion and infrastructure development, showcasing a commitment to transforming bureaucratic delays into swift action. The upcoming WAVE Summit symbolizes India's ambition to elevate its creative industries and drive economic innovation.

"Delay is the enemy of development" - PM Narendra Modi
New Delhi, April 8: Prime Minister Narendra Modi on Tuesday declared that India is poised to soon become the world's third-largest economy.

Key Points

1

India advancing from 11th to 5th largest global economy

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Government focusing on youth aspirations and economic reforms

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Commitment to swift project completion and infrastructure development

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Launching WAVE Summit to boost creative industries

"In just a few years, we've risen from the world's 11th largest economy to the 5th largest," said the Prime Minister, underlining the rapid economic progress.

As of 2025, India remains the fifth largest economy globally, trailing behind the US, China, Germany, and Japan in terms of total GDP.

Addressing a media house event, PM Modi highlighted the government's achievements during the first 100 days of 2025, stressing the importance of youth aspirations in shaping the nation's future.

"Youth aspiration has been the focus of the first 100-day decisions of the government. We have exempted tax on Rs 12 lakh income, which will benefit young professionals. We became the fourth largest nation to allow satellite docking and undocking, we are opening the nuclear energy sector like we did with the space sector, and we also announced the decision to set up the 8th Pay Commission. The gig economy will also receive social security coverage," he said, asserting that inclusivity is not just a promise but a policy.

He underlined "the mantra of performance" as the energy behind Rising Bharat.

Emphasising that delaying projects hampers the nation's progress, while performance and swift action drive development, the PM said, "Delay is the enemy of development, and our government is committed to defeating this enemy". He cited the example of Assam's Bogibeel Bridge, whose foundation was laid by former Prime Minister Deve Gowda in 1997 and initiated by Prime Minister Atal Bihari Vajpayee. However, the project stalled under subsequent governments, causing hardships for millions in Arunachal Pradesh and Assam, he added. He highlighted that his government restarted the project in 2014 and completed it within four years, in 2018.

He also mentioned Kerala's Kollam Bypass Road project, which had been pending since 1972. He noted that the previous governments worked on it for 50 years, while the project was completed within five years, under his government.

Discussing the upcoming WAVE Summit, an initiative by the government, PM Modi remarked, "We have a vibrant movie, podcast, and gaming industry, and we have decided to take it to the next level by the 'Create in India' move through the WAVE platform."

Reader Comments

R
Rahul P.
This is incredible progress! From 11th to 5th in just a few years shows what focused governance can achieve. The youth-focused policies are especially promising 👏 #NewIndia
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Priya K.
While the economic growth is impressive, I hope this translates to better opportunities for all sections of society, not just urban professionals. Rural development needs equal attention.
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Amit S.
The tax exemption for young professionals is a game-changer! As someone who just started working, this will help me save for my future. More power to Rising Bharat 🇮🇳
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Sunita M.
The infrastructure projects mentioned are indeed commendable, but I wish there was more transparency in the selection process. Some regions still feel neglected when it comes to development.
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Vikram J.
Create in India for the entertainment industry is brilliant! Can't wait to see Indian content competing globally. Our stories deserve this platform 🎬
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Neha R.
The gig economy getting social security is long overdue! As a freelance designer, this gives me so much relief. Finally feeling recognized as part of the workforce 💼

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